Many emerging markets have run current account surpluses for the first time.

SINGAPORE These days everyone seems to want to run a current account surplus.

The run up to Taiwan's presidential election on March 20th is one current source of tension.

And, despite a more competitive exchange rate, the US continues to run a large current account deficit.

In the short run, the US current account deficit will remain, regardless of which country runs bilateral surpluses.

Equally important, a desirable global scenario is possibly one in which most developing countries run current account deficits.

These deficits facilitate the surpluses that emerging markets such as China want to run the world s current accounts add up to zero, so if one large set of countries wants to run a surplus, someone big needs to run a deficit.

Shifting the entire adjustment burden onto peripheral countries with current account deficits, while core countries continue to run surpluses, obstructs adjustment.

Dealing with the short run challenges of the current crisis should not distract us from the objective of preventing future meltdowns.

The current projections reflect that even with the fourth courtroom and additional Bench, six trials would continue to run into 2009.

Thus, it is not a good idea to run persistent current account deficits and become dependent on (temporarily) low cost foreign capital.

Instead, the current installment of Latin American socialism is all too likely to produce a re run of tragic episodes from the past.

Solving any of these three problems would go a long way toward resolving the long run financing imbalance between current tax rates and America s long run social insurance promises that the debt ceiling debate s instigators supposedly want to address.

If a considerable fraction of the world economy wants to run a current account surplus (by 2006, this included much of emerging Asia, most oil exporters, and Japan), an equal share of the world economy must run a deficit.

This may undermine its current offensive and the further escalation of violence expected in the run up to and during the 18 September parliamentary elections.

So it is not surprising that, despite its large devaluation, Iceland continues to run a high current account deficit, adding to its already large foreign debt.

PALO ALTO The current financial crisis in Europe providesa unique update to Lenin s dictum that nothing so destabilizes a country as a run on its currency.

Second, the US has run record current account deficits over the past decade, as the political elite Republican and Democrats alike became increasingly comfortable with overconsumption.

In these miniature circuit breakers, the current is run through a solenoid, and, in the event of excess current flow, the magnetic pull of the solenoid is sufficient to force open the circuit breaker's contacts (often indirectly through a tripping mechanism).

But, because they now run current account surpluses, they have fully adjusted and can resume growth, albeit naturally at a much slower pace than during the boom.

Finally, while many emerging market economies tend to run current account surpluses, a growing number of them including Turkey, South Africa, Brazil, and India are running deficits.

As a surplus saver, China has run large current account surpluses since 1994, accumulating a massive portfolio of foreign exchange reserves that now stands at almost 3.7 trillion.

The reason is obvious Japan has run sizeable current account surpluses for decades, giving it more than sufficient domestic savings to absorb all of its public debt at home.

Since China s external surplus is already down to less than 2 of GDP, a decline in domestic saving could result in China beginning to run a current account deficit.

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No one country will be able to run current account deficits and use foreign finance to indulge in financial excesses as freely as the United States did in recent years.

Néstor Kirchner, Cristina s husband and Argentina s current president, did not want to run for office again, despite being legally permitted to do so and voters preference for him over her.

But when a country s growth rate continues to increase, its saving rate would increase faster than its investment rate, so it is more likely to run a current account surplus.

I run.

And, because there is no strategic reason to run large surpluses, with an excess of savings over investment, maintaining reasonable balance on the current account appears to be the preferred course.

Current challenges included the provision of income generating schemes for households run by widows, proper care for the injured, relief for those whose property had been confiscated or damaged and temporary shelter.

Know ye not that they which run in a race run all, but one receiveth the prize? So run, that ye may obtain.

Terwa Marathon Run is an annual event run in late May (since 1989).

And then run?

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I run quickly.

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They didn't run.

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Don't you know that those who run in a race all run, but one receives the prize? Run like that, that you may win.

In the United States in the run up to the current crisis, easy credit, especially for housing, induced households to spend too much, while in Greece, the government borrowed its way into trouble.

Contrary to concerns that foreign banks would cut and run at the first sign of trouble, in the current crisis they maintained a remarkable degree of support for their subsidiaries in emerging markets.